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Euro Adoption in Central and Eastern Europe
			: Opportunities and Challenges

Euro Adoption in Central and Eastern Europe : Opportunities and Challenges »

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

DOI: http://dx.doi.org/10.5089/9781589063709.072

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

Eight central and eastern European countries--the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Slovak Republic, and Slovenia--officially joined the European Union (EU) in May 2004. This auspicious m...

Cash Shortage in the Former Soviet Union

Cash Shortage in the Former Soviet Union »

Source: Cash Shortage in the Former Soviet Union

Volume/Issue: 1994/67

Series: IMF Working Papers

Author(s): International Monetary Fund

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 01 June 1994

ISBN: 9781451848861

Keywords: inflation, monetary union, monetary fund, money supply, monetary authority, European II,

An unexpected shortage of banknotes emerged during 1992 in the former Soviet Union. The cash shortage is explained by the asymmetry in the monetary union that prevailed, under which one member (the Russian Federati...

I Introduction

I Introduction »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

The accession in 2004 of eight central European countries (CECs) to the European Union (EU) marks the end of the first phase of the integration of these economies with Western Europe. These eight countries h...

2 Real Convergence and Euro Adoption in Central and Eastern Europe: Trade and Business Cycle Correlations as Endogenous Criteria for Joining the EMU

2 Real Convergence and Euro Adoption in Central and Eastern Europe: Trade and Business Cycle Correlations as Endogenous Criteria for Joining the EMU »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

Ten countries acceded to the European Union (EU) in 2004, including five in Central Europe and the three Baltic republics (along with Cyprus and Malta). Should they also join the European Monetary Union (EMU...

Comments on “Real Convergence and Euro Adoption in Central and Eastern Europe: Trade and Business Cycle Correlations as Endogenous Criteria for Joining the EMU,” by Jean-Philippe Cotis

Comments on “Real Convergence and Euro Adoption in Central and Eastern Europe: Trade and Business Cycle Correlations as Endogenous Criteria for Joining the EMU,” by Jean-Philippe Cotis »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

Let me say at the outset that I liked this paper a lot. It offers a comprehensive assessment of the empirical evidence on real cyclical convergence through the trade channel. It also provides a thought-provo...

3 Real Convergence, Economic Dynamics, and the Adoption of the Euro in the New European Union Member States

3 Real Convergence, Economic Dynamics, and the Adoption of the Euro in the New European Union Member States »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

Real convergence—generally understood as income catching-up—is arguably the most important challenge for the new member states and one of the great opportunities of an expanded European Union (EU). In additi...

Comments on “Real Convergence, Economic Dynamics, and the Adoption of the Euro in the New European Union Member States,” by Sue Owen

Comments on “Real Convergence, Economic Dynamics, and the Adoption of the Euro in the New European Union Member States,” by Sue Owen »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

These comments draw both on the European Central Bank (ECB) paper by Christian Thimann and on the United Kingdom’s assessment of the five economic tests (convergence, flexibility, investment, financial servi...

4 Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe

4 Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

In May 2004, eight Central and Eastern European (CEE) countries joined the European Union (EU). Bulgaria and Romania are expected to follow by 2007. The eastern enlargement of the EU heralds the enlargement...

Comments on “Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe,” by M. J. Artis

Comments on “Exchange Rate Regimes and Macroeconomic Stability in Central and Eastern Europe,” by M. J. Artis »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

The De Grauwe and Schnabl paper has two parts. The first part focuses on the reasons why the enlargement countries are so (justifiably) eager to join the euro zone. The second part is an empirical exercise....

5 Real Convergence, Capital Flows, and Monetary Policy: Notes on the European Transition Countries

5 Real Convergence, Capital Flows, and Monetary Policy: Notes on the European Transition Countries »

Source: Euro Adoption in Central and Eastern Europe : Opportunities and Challenges

Series: Seminar Volumes

Author(s): Susan Schadler

Publisher: INTERNATIONAL MONETARY FUND

Publication Date: 18 April 2005

ISBN: 9781589063709

Keywords: exchange rate, inflation, monetary policy, monetary union, exchange rate stability

Capital inflows have been a fact of life for a number of European transition countries over the past several years. These inflows are sometimes viewed as a vote of confidence in these economies’ transformati...